Raymond James Reaffirms “Strong-Buy” Rating for Clean Energy Fuels (NASDAQ:CLNE)

Clean Energy Fuels (NASDAQ:CLNE)‘s stock had its “strong-buy” rating reissued by research analysts at Raymond James in a report released on Tuesday,Benzinga reports. They currently have a $4.00 price objective on the utilities provider’s stock, down from their prior price objective of $5.00. Raymond James’ price target points to a potential upside of 106.72% from the company’s current price.

Separately, StockNews.com raised shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th.

Clean Energy Fuels Price Performance

Shares of CLNE opened at $1.94 on Tuesday. Clean Energy Fuels has a fifty-two week low of $1.81 and a fifty-two week high of $3.67. The company has a 50 day moving average price of $2.92 and a 200-day moving average price of $2.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06. The stock has a market capitalization of $432.39 million, a PE ratio of -6.24 and a beta of 2.18.

Clean Energy Fuels (NASDAQ:CLNE) last posted its earnings results on Monday, February 24th. The utilities provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The company had revenue of $109.33 million during the quarter, compared to analysts’ expectations of $102.60 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. Equities analysts predict that Clean Energy Fuels will post -0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Robert M. Vreeland purchased 15,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was acquired at an average price of $1.94 per share, with a total value of $29,100.00. Following the completion of the acquisition, the chief financial officer now owns 458,800 shares in the company, valued at approximately $890,072. This represents a 3.38 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Securities LLC purchased a new position in shares of Clean Energy Fuels in the fourth quarter worth $31,000. Balyasny Asset Management L.P. acquired a new stake in shares of Clean Energy Fuels in the fourth quarter worth $31,000. Tower Research Capital LLC TRC increased its stake in shares of Clean Energy Fuels by 56.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,584 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 4,894 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Clean Energy Fuels in the fourth quarter worth $40,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Clean Energy Fuels in the third quarter worth $41,000. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Clean Energy Fuels Company Profile

Clean Energy Fuels Corp. provides natural gas as alternative fuels for vehicle fleets and related fueling solutions in the United States and Canada. It supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for medium and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations.